Despite a economy-changing pandemic gripping the world, U.S. recorded music revenues increased in the first half of the year over the year prior, driven by streaming and (to an extent)... vinyl.
In the first half of 2020, U.S. recorded music revenues grew 5.6% to $5.7 billion at retail value,
continuing the positive growth trends of recent years. Streaming music grew to 85% of the market by
value, compared with 80% the prior year.
1. Vinyl Outpaced CDs For the First Time in Over 30 Years
2. CD Declines Mean Last Year Was a Blip
3. Pandemic Guts Ad-Supported On-Demand Revenue Growth
4. How Much Can You Read Into Numbers?
Sony agrees to pay $12.7 million to affected Sony artists who opt-in to the class action on a pro-rata basis, and also commits to increase royalties on international streams for those artists' eligible recordings by 36% from July 1, 2019 onwards.